Industry

Turnover in the Industry sector was EUR 964.4 million, accounting for 6.6% of the Principality’s turnover (excluding Financial and insurance activities). Once again, it experienced a decline in 2015 (-6.7%).

2015 INDUSTRY TURNOVER

964.4

M€

Source: IMSEE

The share of the total turnover of the Monaco economy accounted for by the Industry sector declined slightly (-1.2 percentage points over 10 years). This rate is rising because domestic demand is falling more quickly than external demand. In 2015, the export rate was 37.3%, which was stable compared with 2014.

Manufacturing continued its decline (-8.2%) while Services in support of the extractive industries, energy, water, waste and decontamination experienced growth of 4.1% in 2015.

Manufacturing has in fact been in sharp decline since 2012, against the background of an unfavourable global economic context. The sector saw its lowest level of turnover since 2006. On the other hand, turnover in the Services in support of the extractive industries, energy, water, waste and decontamination sector has recorded growth of 42.1% over 10 years.

Within the manufacturing sector, three industries stand out in terms of turnover: the manufacture of rubber and plastic products (37% of the manufacturing sector’s turnover), the chemical industry (17%) and the pharmaceutical industry (14%).

In 2015, 167 businesses were operating in the Industry sector, accounting for 3% of all businesses in the Principality.

There were 124 employers in this sector, up 6% compared with 2015 (+7 compared with 2014). The number of employees per employer, however, has been falling since 2011. There are now nine more employers in businesses with less than 50 employees, and two fewer employers employing between 50 and 200 employees.

INDUSTRY EMPLOYERS AS AT DECEMBER 2015

124

EMPLOYERS

Source: Monaco social funds

INDUSTRY EMPLOYEES AS AT DECEMBER 2015

2 872

EMPLOYEES

Source: Monaco social funds

Between them, these 124 employers employ 2,872 staff, 35.5% of whom are women. By nationality, 73.0% of the employees are French, 17.8% are Italian, and 1.5% are Monegasque (1.4%).